Considering some insurance for my boat and not sure where to turn. So far, my home insurance carrier (Allstate) is requiring a survey on my boat for them to insure. She is a 76 O'day and an survey is $750.00. That doesn't make a whole lot of sense to me to pay for a survey that is 10% of the boat value just so I can get insurance. Also, Allstate will cut me off when the boat has its 30th birthday anyway. I am not terribly concerned with any damage insurance...should I sink her or catch her on fire I can recover from the loss without much worry. However, if I have a guest aboard and they fall off and drown, or worse I damage someone elses vessel I want to be insured. Any suggestions? West Marine's insurace company will not help me because I am in Alaska. If it makes a difference I have a 255 Gross Ton Inland Waterways Masters license? Can I go commercial insurance on my private boat and get a better deal? Any good ideas? Also any suggestions on liability limits? Alaska does not have a requirement. P.S. I trailer her once a year to and from the marina and she is covered under my auto policy when hooked to the truck. Other than that I am taking a risk everytime I put her in the water.
Boat insurance
- Thread starter mrscott
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Ok ok no teasing me
I realize that someone drowning is worse than damaging someone elses boat. These boater fingers are faster than this boater brain.
I realize that someone drowning is worse than damaging someone elses boat. These boater fingers are faster than this boater brain.
I get liability insurance from Progressive.
Not too costly for a half million. They wanted a survey because the boat hadn't benn in service for about fifteen years. I think that their concern was that it not sink in the channel and become a hazard to navigation that would require removal. Edit to add: I guess it kinda sorta depends on whose boat and who gets drowned.
Not too costly for a half million. They wanted a survey because the boat hadn't benn in service for about fifteen years. I think that their concern was that it not sink in the channel and become a hazard to navigation that would require removal. Edit to add: I guess it kinda sorta depends on whose boat and who gets drowned.
Liability
I got liability ins. from State Farm for my last boat, $80.00 a year in FL. This covered if it sank , and other boats and people on the boat.
I got liability ins. from State Farm for my last boat, $80.00 a year in FL. This covered if it sank , and other boats and people on the boat.
Good ole Progressive.
After just having done getting a royal screwing from Progressive on an auto claim... Jack Hart
After just having done getting a royal screwing from Progressive on an auto claim... Jack Hart
A possible solution
Perhaps an unbrella policy is what you are looking for. Many companies will give you a policy that protet you for whatever may come your way. Typical is a $1 mil policy which covers you in all situations. Ask your agent about it.
Perhaps an unbrella policy is what you are looking for. Many companies will give you a policy that protet you for whatever may come your way. Typical is a $1 mil policy which covers you in all situations. Ask your agent about it.
Progressive screwed my car claim too....
I will also be checking out a new insurance company. I had Progressive for my cars and boat but they couldn't handle a car claim correctly, I was warned about using a car insurance company for my boat and I will be checking out BOAT US when the bill comes due. FYI. Don't waste your money on the auto rental agreement if you plan on driving the rental car out of state. Progressive doesn't allow the rental car out of state. That doesn't do much good when your in Rhode Island! Jack
I will also be checking out a new insurance company. I had Progressive for my cars and boat but they couldn't handle a car claim correctly, I was warned about using a car insurance company for my boat and I will be checking out BOAT US when the bill comes due. FYI. Don't waste your money on the auto rental agreement if you plan on driving the rental car out of state. Progressive doesn't allow the rental car out of state. That doesn't do much good when your in Rhode Island! Jack
Insurance
I too simply have a rider attaching it to my homeowners and catastrofic liability policy that I was carrying any way. The first told me I needed a survey also than I further inquired and all they really wanted was a certificate of seaworthyness. Any local marina should be able to do that very cheep. It must be out of the water however. Good luck from Scott "On Eagles Wings".
I too simply have a rider attaching it to my homeowners and catastrofic liability policy that I was carrying any way. The first told me I needed a survey also than I further inquired and all they really wanted was a certificate of seaworthyness. Any local marina should be able to do that very cheep. It must be out of the water however. Good luck from Scott "On Eagles Wings".
Progressive Here
I use Progressive. Last summer when I bought my boat, I had to insure it real quick, so I added it to my car policy. But then I had a claim (keel damage). I dropped the progressive ins for the car (Gieco). During last summer, I had a quote from Boat US for about $200 (vs. $400+ from Progressive), yet I did not act on it. Since the Claim ($3500), I have tried (unsuccessfully) to get ins quotes from Geico and Boat US. No dice from either. Good Luck and do not go without! John
I use Progressive. Last summer when I bought my boat, I had to insure it real quick, so I added it to my car policy. But then I had a claim (keel damage). I dropped the progressive ins for the car (Gieco). During last summer, I had a quote from Boat US for about $200 (vs. $400+ from Progressive), yet I did not act on it. Since the Claim ($3500), I have tried (unsuccessfully) to get ins quotes from Geico and Boat US. No dice from either. Good Luck and do not go without! John
Boat US is where I would begin
Over the years we have tried beat the price & policy we have with Boat US. I have learned that our home/car/business insurance broker is not equipped to provide insurance for our boat... The price and the policy (coverage) simply did not meet our needs and the agent was at a loss when discussing what is need for boat coverage. After our marina was devastated by Isabel, I got quite an education on marine insurance and a key question to ask is, how will your insurance handle boat salvage if it sinks... Earlier this year "Practical Sailor" ran a series of articles on marine insurance. I would recommend finding those issues and reading what they had to say. Good luck
Over the years we have tried beat the price & policy we have with Boat US. I have learned that our home/car/business insurance broker is not equipped to provide insurance for our boat... The price and the policy (coverage) simply did not meet our needs and the agent was at a loss when discussing what is need for boat coverage. After our marina was devastated by Isabel, I got quite an education on marine insurance and a key question to ask is, how will your insurance handle boat salvage if it sinks... Earlier this year "Practical Sailor" ran a series of articles on marine insurance. I would recommend finding those issues and reading what they had to say. Good luck
Allstate
Interesting about the survey on Allstate. Maybe they have higher claims up in AK than they do in OK. There was no hassle. I have my car polices with them. They asked me to value the boat, motor, and trailer. I've got a 1985 Mac 25, six month premium is $157.
Interesting about the survey on Allstate. Maybe they have higher claims up in AK than they do in OK. There was no hassle. I have my car polices with them. They asked me to value the boat, motor, and trailer. I've got a 1985 Mac 25, six month premium is $157.
Boat US
I, too, lost a boat to Hurricane Isabel. My marina was devastated and hundreds of boats were damaged or lost. Boat US had a qualified team of surveyor/adjustors on the scene a few days later. To make a long story short, the adjustor found damage that I had missed -- and it resulted in the boat being totaled. I had check for full value in hand about month later. When I bought my replacement boat, a 1986 H28.5, Boat US had me do a self-survey and take some pictures of the boat in orde to get insurance on it. Although I had pro do a pre-purchase survey, Boat US did not require a copy of it. Friends of mine who had their boats insured as part of their car/household insurance policies had horror stories about settling their claims and getting their boats repaired. I would go with Boat US in a New York minute....
I, too, lost a boat to Hurricane Isabel. My marina was devastated and hundreds of boats were damaged or lost. Boat US had a qualified team of surveyor/adjustors on the scene a few days later. To make a long story short, the adjustor found damage that I had missed -- and it resulted in the boat being totaled. I had check for full value in hand about month later. When I bought my replacement boat, a 1986 H28.5, Boat US had me do a self-survey and take some pictures of the boat in orde to get insurance on it. Although I had pro do a pre-purchase survey, Boat US did not require a copy of it. Friends of mine who had their boats insured as part of their car/household insurance policies had horror stories about settling their claims and getting their boats repaired. I would go with Boat US in a New York minute....
An umbrella policy.......
..... will require an underlying policy on the boat and will not pay anything until the liability limits on that policy have been exhausted. Check with your agent right away if you have an umbrella policy and think that this takes the place of a boat policy. Different companies have different requirements for the underlying policy. Tim
..... will require an underlying policy on the boat and will not pay anything until the liability limits on that policy have been exhausted. Check with your agent right away if you have an umbrella policy and think that this takes the place of a boat policy. Different companies have different requirements for the underlying policy. Tim
AK isurance
Scott Seasoned yachts and Alaska have two out of three strikes. Adding your vessel to a homeowners policy is a good option depending on the size of the vessel and the value. Surveys are normally required even for liability only because the vessel still has to be proven to be seaworthy. Progressive will - and I am not sure about alaska - provide liability only for vessels if you put zero in for the value of the Hull. I represent 30 different yacht insuring companies and probably only one to 3 may consider your vessel for hull insurance including liability insurance. An out of the water survey would be required to even approach the underwriters. Yes it seems foolish, but they do not know you or your vessel and the surveyor is the neutral party. Our for-farthers have tried every trick to get around the rules only to have the rules being updatedd every year by the underwriters. You situation is tough but a good yacht insuring agent should be able to do the leg-work for you. Bob Bob@IMIScorp.net
Scott Seasoned yachts and Alaska have two out of three strikes. Adding your vessel to a homeowners policy is a good option depending on the size of the vessel and the value. Surveys are normally required even for liability only because the vessel still has to be proven to be seaworthy. Progressive will - and I am not sure about alaska - provide liability only for vessels if you put zero in for the value of the Hull. I represent 30 different yacht insuring companies and probably only one to 3 may consider your vessel for hull insurance including liability insurance. An out of the water survey would be required to even approach the underwriters. Yes it seems foolish, but they do not know you or your vessel and the surveyor is the neutral party. Our for-farthers have tried every trick to get around the rules only to have the rules being updatedd every year by the underwriters. You situation is tough but a good yacht insuring agent should be able to do the leg-work for you. Bob Bob@IMIScorp.net
Allstate Followup
They have insured my vessels for the past twenty years and were never smart enough to ask for a survey even when I purchased vessels over twenty years old. It is my impression they don't know much about insuring boats but their price is good and service is acceptable, Currently my 27 year old vessel is insured for $45k and would not survey very well. I pay the premium and hope I will never need to place a claim
They have insured my vessels for the past twenty years and were never smart enough to ask for a survey even when I purchased vessels over twenty years old. It is my impression they don't know much about insuring boats but their price is good and service is acceptable, Currently my 27 year old vessel is insured for $45k and would not survey very well. I pay the premium and hope I will never need to place a claim
Insurance
Usually real marine insurance policies will have a stated value, and if the boat is a total loss, that is what they pay. My impression is that the Allstate/Progressive/State Farms of the world treat your boat like a car, and if it was a total loss they will take out their blue book and decide what it is worth. chances are that is a lot less than you would want as a stated value.
Usually real marine insurance policies will have a stated value, and if the boat is a total loss, that is what they pay. My impression is that the Allstate/Progressive/State Farms of the world treat your boat like a car, and if it was a total loss they will take out their blue book and decide what it is worth. chances are that is a lot less than you would want as a stated value.
I believe that Ted is correct.
While Allstate/StateFarm/Progressive and most of the automobile insurance companies apprear to have less expensive insurance premiums, they are usually selling you sub-standard policies. If you know what you are purchasing that may be fine. I can tell you first hand that they know little or nothing about boats. I think that this link does a good job of explaining what you are probably getting from the major automobile insurance companies. This may not be true for all of the companies, but it would be worth checking your policies and/or contacting your agents to see where you stand. I know that we have a few insurance agents that I have pissed off before so they may want to pipe in and correct me if I am wrong.
While Allstate/StateFarm/Progressive and most of the automobile insurance companies apprear to have less expensive insurance premiums, they are usually selling you sub-standard policies. If you know what you are purchasing that may be fine. I can tell you first hand that they know little or nothing about boats. I think that this link does a good job of explaining what you are probably getting from the major automobile insurance companies. This may not be true for all of the companies, but it would be worth checking your policies and/or contacting your agents to see where you stand. I know that we have a few insurance agents that I have pissed off before so they may want to pipe in and correct me if I am wrong.
boat us
I don't know what size your boat is...... mine is a '79 O'Day 25 and I pay $125 per year for $7000 valuation which is probably more that it's worth. They never asked me for a survey on this boat or on my previous Catalina 22. Although I have never filed a claim..... I have never heard anyone getting screwed by BoatUS. $750 for a survey sounds like 5 years worth of premiums to me. best of luck. Let us know how it turns out. ken in sacramento
I don't know what size your boat is...... mine is a '79 O'Day 25 and I pay $125 per year for $7000 valuation which is probably more that it's worth. They never asked me for a survey on this boat or on my previous Catalina 22. Although I have never filed a claim..... I have never heard anyone getting screwed by BoatUS. $750 for a survey sounds like 5 years worth of premiums to me. best of luck. Let us know how it turns out. ken in sacramento
Talk with others boaters in your are about their
experiences with their insurance company before you try to save a few dollars. Your marina may someday look like our marina did on Friday September 19, 2003 http://members.cox.net/gbennett11 Warren, you may remember that morning. Good luck
experiences with their insurance company before you try to save a few dollars. Your marina may someday look like our marina did on Friday September 19, 2003 http://members.cox.net/gbennett11 Warren, you may remember that morning. Good luck
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